National partnership launched between Kilkenny company Loanitt and Credit Unions

Kilkenny-based company Loanitt has launched Personal Loans through a new Strategic Partnership with Metamo Credit Unions.

Metamo represents the 16 largest Credit Unions in Ireland nationally. To announce the partnership, Minister of State Jennifer Carroll MacNeill and Mayor of Kilkenny David FitzGerald visited Loanitt HQ along with senior representatives from Enterprise Ireland, Metamo and St Canice's Credit Union last week to officially launch the move into personal lending.

Loanitt ran a pilot with the Credit Unions in 2022 and from that has spent a significant amount of resource in building geo-matching technology which can match the customer with the common bond of each specific Credit Union which has always been prohibitive to the Credit Unions accessing national partnerships.

Without the technology the Credit Union would not be able to tap into a national provider or any national opportunity as no-one has ever been able to build anything to match the customer to the common bonds. Loanitt currently has an existing customer base of 60,000 customers and receives over 6,000 new finance applications a month across all its products totalling over €50 million.

Minister for State Carroll MacNeill said the new innovation was a very clever partnership and represents a huge opportunity for both Loanitt and the partnering Credit Unions